F

E.W. Scripps Company (The) — Earnings Quality Grade F

SSP · Communication Services

Major red flags

Revenue
$2.2B
2025
Net Income
-$101M
2025
Gross Margin
40.7%
Free Cash Flow
$7M
01

Screening Summary

11
Passed
3
Watch
3
Failed
-2.55
M-Score

Management Signals

No recent CEO, CFO, board, or accounting leadership signals found in SEC 8-K filings.
02

Financial Trends

Revenue & Net Income ($B)

Margins (%)

03

18-Point Screening

01

Revenue Quality

!
A1DSO Change

DSO increased by 14 days

A2AR vs Revenue Growth

AR growth 0.2% vs revenue growth -14.3%

A3Revenue vs CFFO

Revenue -14.3%, CFFO -85.5%. Cash follows revenue

02

Expense Quality

B1Inventory vs COGS

No material inventory

B2CapEx vs Revenue

CapEx growth -28.6% vs revenue -14.3%. Normal

B3SG&A Ratio

SG&A/Gross Profit = 64.3%. Normal

!
B4Gross Margin

Gross margin swung -6.6pp (47.4% → 40.7%)

03

Cash Flow Quality

!
C1CFFO vs Net Income

CFFO/NI = -0.53. Below 1.0

C2Free Cash Flow

FCF $0.0B, FCF/NI = -0.06

C3Accruals Ratio

Accruals ratio = -3.1%. Low accruals

C4Cash vs Debt

Cash $0.0B covers only 1% of debt $2.7B

04

Balance Sheet Health

D1Goodwill + Intangibles

Goodwill+Intangibles $3.4B = 276% of equity. Over 50%

D2Leverage

Debt/EBITDA = 10.7x (>4x). Interest coverage = 0.7x (<2x). Financial stress

D3Soft Asset Growth

Other assets -25.5% vs revenue -14.3%. Normal

D4Asset Impairment

No write-off data

05

Acquisition Risk

E1Serial Acquirer FCF

FCF after acquisitions positive

E2Goodwill Surge

Goodwill+Intangibles change -5% YoY. Normal

06

Manipulation Score

F1Beneish M-Score

M-Score = -2.55 (< -2.22). Unlikely manipulator

Portfolio monitoring

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04

Beneish M-Score

Manipulation Probability-2.55
-4.0 Clean-2.22 Grey-1.78 Danger0
1.169
DSRI
AR growing faster than revenue?
1.163
GMI
Gross margin declining?
0.969
AQI
Asset quality deteriorating?
0.857
SGI
Revenue growth rate
0.964
DEPI
Depreciation slowing?
1.084
SGAI
SG&A ratio changing?
-0.0307
TATA
Accruals level
1.037
LVGI
Leverage increasing?
05

Altman Z-Score

0.49
Distress Zone
0 Distress1.102.605.0+ Safe
0.0587
Liquidity
-0.1152
Cumulative profit
0.0203
Operating efficiency
0.3312
Leverage

Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25